The Dow soared 700 points to end the week as traders cheered the end of the debt ceiling fight. The Senate voted to send the bill to raise to country's borrowing limit for two years to Biden's desk. AdvertisementUS stocks soared on Friday, with markets feeling upbeat about the end of the debt ceiling showdown and a strong May payroll report. The Dow Jones Industrial Average spiked 700 points, or more than 2%, climbing steadily through the session, while the Nasdaq and S&P 500 were each up over 1%. Treasury Secretary Janet Yellen had warned that the US would run out of cash in early June without raising the debt ceiling.

Source: Economic Times June 02, 2023 21:48 UTC